LG’s mobile division is in a state of flux, where new executives are considering new phones and new projects, all with the intention of turning the company’s fortunes around. The good news is, it has done so before, and could…

Originally founded in 1995 as “Lucky Goldstar,” South Korean conglomerate LG came out of the merger of chemical manufacturer Lucky Chemical and electronics-maker Goldstar. Though LG is best known in the U.S. for making consumer electronics and home appliances — it’s one of the most popular names in TVs and washing machines, among others — the company makes everything from textiles and plastics to Korean Coca-Cola.